BHP hits new highs in iron ore and copper after strong finish for the finanical year

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

BHP hits new highs in iron ore and copper after strong finish for the finanical year

BHP has capped off the financial year with record iron ore production and output from other commodities across its global resources portfolio that hit guidance, including its higher copper production result in 15 years.

The Big Australia — which just a week earlier revealed it would shutter its entire WA Nickel business amid a stagnant market for the key battery material — on Wednesday reported a 2 per cent rise in iron ore production from its Pilbara operations of 287 million tonnes, up one per cent from the previous year.

Copper production soared 9 per cent to 1.87 million tonnes, lead by its operations in South Australia which benefitted from the first full year of additional tonnes following the $9.6 billion takeover of OZ Minerals in May 2023.

Chief executive Mike Henry said the miner ended the year with a strong fourth quarter, achieving several production records and meeting production and unit cost guidance for all commodities.

“WA Iron Ore continued its strong performance, delivering a second consecutive year of record production on the back of ongoing incremental improvements along its supply chain as we progress toward our medium-term goal of increasing production to greater than 305mtpa,” Mr Henry said.

“We achieved a strong performance across our copper business globally, underpinned by the highest production in four years at Escondida and another year of record production from Spence in Chile.

“Successful integration at Copper South Australia has delivered additional production tonnes, and exceeded the annualised synergies planned at the time of the OZL acquisition.”

More to come

This is the hidden content, please

• Sign In
• or
• Sign Up

#BHP #hits #highs #iron #ore #copper #strong #finish #finanical #year

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up